• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
Ripple XRP SEC

These Are The Key Takeaways For Ripple And XRP From The Gensler Hearing

Jake Simmons
by Jake Simmons
2 years ago
·
Posted in Ripple
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The course of yesterday’s congressional hearing of US Securities and Exchange Commission chairman Gary Gensler before the House Financial Services Committee can undoubtedly be seen as an indirect triumph for Ripple, XRP investors and the entire crypto industry. Gensler was confronted with tough questions right from the start, which he tremulously dodged, just to avoid giving any regulatory clarity.

Partly with shaking hands and in broken speech, Gensler only stammered in response to aggressive questions from Committee Chairman Patrick McHenry, Warren Davidson and Tom Emmer (all Republicans), among others. Davidson asked the most important question of the day for the XRP community: whether he believes XRP is a security.

Interestingly, Gensler refused to give a yes or no answer. Instead, the SEC chief said that the question of whether XRP is a security is currently in court, and that there are active discussions on the issue. “We are in court, and [there are] active discussion and litigation on that matter,” Gensler responded.

https://twitter.com/mrlevelup/status/1648368390510198812

Fair Notice Defense Of Ripple Gets Stronger

Certainly, a strong case for Ripple’s fair notice defense was made by McHenry, when he pestered the SEC chairman with numerous follow-up questions to get him to make a classification of Ethereum (ETH) as a security or commodity. The fair notice defense states that no one should be forced to “speculate on the meaning of laws.”

Gensler kept dodging the questions, while McHenry sharpened the tone. “I am asking you a specific question, chair Gary Gensler. I said this in private. This should be no shock. I am asking this question. Is Ether a commodity or security?”

Related Reading: Ripple CLO Clarifies Why XRP Is Not Used For Liquidity Hub

Gensler responded only with, “It depends on the facts and law,” while McHenry, visibly annoyed, interrupted the SEC chairman and said, “I am asking you about the facts and the law sitting in your seat and the judgment you are making.” Gensler replied only that he can’t “prejudge.”

McHenry countered that he does exactly this with his more than 50 enforcement actions, including one against Ripple. “Do you think this provides safety and soundness, does it provide consumer protection, […] I think ‘No’ should be a very simple answer for you here. That uncertainty is bad,” Mchenry stated.

There is no way @ripple will lose. pic.twitter.com/cZgnADLYnz

— Mr. Huber🔥🦅🔥 (@Leerzeit) April 18, 2023

He also announced that it is the committee’s intention to remove the uncertainty and create a sound legal basis. All of this should play into Ripple’s cards.

With the Fair Notice, Ripple already had one of the most compelling arguments, which has probably become even stronger since yesterday. Judge Analisa Torres is not likely to have missed the hearing.

Related Reading: Ripple Shatters SEC’s Argument In Response Letter, Here’s How

Also supportive along these lines is likely that all of the committee’s Republicans sent a letter to SEC Chairman Gensler accusing him of trying to force digital asset trading platforms to “come in and register” under his nonexistent registration process. Susan Friedman, International Policy Counsel at Ripple, commented on this:

A direct rebuke by @FinancialCmte to Chair Gensler’s (false) claim that crypto markets are suffering from a lack of compliance rather than a lack of clarity. ‘The only entity to blame for the lack of registrants is the SEC itself.’

In addition, Warren Davidson has introduced a bill that proposes restructuring the SEC and firing Gensler:

To correct a long series of abuses, I’m introducing legislation that removes the chairman of the Securities and Exchange Commission and replaces the role with an executive director that reports to the board where all authority would reside.

Is XRP a security? @WarrenDavidson tells Gary to his face he's proposing legislation to fire him! pic.twitter.com/RGHcVMqN6H

— Digital Asset Investor (@digitalassetbuy) April 18, 2023

At press time, the XRP price stood at $0.4901, seeing a drop along with a market-wide correction.

Ripple XRP price
XRP price, 4-hour chart | Source: XRPUSD on TradingView.com
Featured image from capital.com, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jake Simmons

Jake Simmons

Follow

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

Full Profile

Related Posts

Ripple

Ripple Vs. SWIFT Battle Heating Up As Exec Lands Major Blow To XRP

4 days ago
Ripple

Ripple Swell 2025 Is Almost Here: Here’s What To Expect From The Event

1 week ago
Ripple

Pundit Says Ripple Is The New SWIFT — Here’s What Is Driving It

1 week ago
Ripple

Latest RLUSD Stablecoin Could Propel Ripple To Limelight Amid Trillion-Dollar Predictions

2 weeks ago
Ripple

Did This Federal Reserve Announcement Just Put Ripple In The Ranks Of SWIFT And BRICS?

2 weeks ago
XRP

Ripple’s RLUSD Takes Center Stage As NYSE-Listed Company Moves $1.5B Through XRP Ledger

2 weeks ago

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    1 day ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    1 day ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    1 day ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    2 days ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.